SME Bites

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 13th May 2021 - National Bamboo Mission launches a Management Information Systems module for strengthening the domestic Agarbatti industry. - Union Agriculture Ministry has allocated Rs 2250 Crore for realizing the huge potential of the horticulture sector. - NITI Aayog and Mastercard Release Report on ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’. - A group of businessmen in Faridabad led by Rajiv Chawla, chairman IamSMEofIndia, converted 40 rooms in Delhi Public School in Greater Faridabad into a Covid facility. - UP govt to allow operation of transport delivery offices for smoother functioning of MSMEs amid lockdown

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 10th May 2021 - Govt releases Rs 250 cr interest subvention for business revival in J&K. - Around 77 % MSME engaged in garment manufacturing planning to reduce their staff by more than 25 per cent said a survey by CMAI.  - The European Investment Bank and SBI to invest up to €100 mn in Indian SMEs focused on climate change -Give discounts to hospitals registered under MSMEs: Labour Minister to UP govt - Majority of SMEs qualify for restructuring says Crisil.

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 8th May 2021 - Nineteen applications filed under PLI scheme for IT Hardware. - The Indian Government’s policies aimed at reviving and supporting MSME’s will also go a long way in supporting resilient growth, said Union Finance Minister. - Govt exempts IGST on import of COVID-19 relief material amid crisis - RBI announces slew of measures for MSMEs battered by Covid second wave - As per data from Centre for monitoring economy, the unemployment rate climbed to 7.9% for the month for April compared to 6.5% in March.

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 5th May 2021 - CAIT calls for national lock-down to deal with COVID-19. - Women-led development will pave the way for Atmanirbhar Bharat, especially in the MSME sector, said Pratap Chandra Sarangi, Minister of State for msme. - Delhi Petrol Dealers Association (DPDA) has urged the Lieutenant Governor and police to open one side of the road at the Singhu border. - Govt announces various relief measures for taxpayers under GST - GST collection for April 2021 sets new record

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 2nd May 2021 - KASSIA writes to PM Modi; seeks help for them amid COVID second wave. - Govt permits import of oxygen concentrators bought through the post, courier for personal use. - SIDBI introduces AROG and SHWAS scheme to fight COVID-19 - COVID-19 phase 3 vaccination for 18+ has started but states don't have vaccine stock - The Codex Committee on Spices and Culinary Herbs (CCSCH) has finalized and recommended quality standards for four spices; cloves, oregano, basil, and ginger

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 29th April 2021 - MSMEs urge FM to reign in profiteering during a pandemic by producers of ferrous, non-ferrous metals & polymers. - All Industries and Trade Frum (AITF) has suggested Prime Minister Narendra Modi disclose the names of COVID positive patients name in the public domain so that the same can be stopped. -Govt taking measures to enable MSMEs to protect IP Rights, monetize creative innovations: Joint Secretary, DPIIT - Govt receives 8,665 applications seeking loan worth Rs 8,216 cr under AIF scheme - All Industries and Trade forum (AITF) has asked the central government to utilize 65, 808 crore surplus fund of ESIC for COVID vaccination and treatment of workers from different sectors of India.

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 28th April 2021 -As wholesalers stay away due to curfews, mango orchard owners sell lakhs of Alphonso's online. -India’s fashion artisans face ‘extreme distress’ in pandemic -MSMEs seek easing of NPA, compliance rules -Karnataka MSMEs demand corporation buses for their workers amid curfew -The Employees Provident Fund Organization (EPFO) has launched one more e-initiative i.e., Aadhaar based e – nomination to facilitate EPF subscriber

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 27th April 2021 - MSMEs need to invest in building their Intellectual Property: Secretary, DST(Prof. Ashutosh Sharma, Secretary, Department of Science & Technology, Government of India.) - FOIJ requests J&K Governor to release 3rd installment of 5 percent interest subvention to industrial units - AEPC requests 8,000 plus apparel exporters to vaccinate their workers - Govt extends deadlines under Vivad se Vishwas scheme to June 30th - PHD Chamber urges govt to reduce TDS rates amid a pandemic

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 24th April 2021 - Bank of Maharashtra is looking at resolving 20-25 stressed MSME accounts under the pre-packaged insolvency resolution process.  - India’s processed food products exports witnessed a growth of 26.51%  -Vibha Harish, a 25-year old entrepreneur from Bengaluru made it to the Forbes Asia's 30 Under- 30 in just one year of her venture. - IRDAI asks insurers to ensure swift settlement of COVID-19 claims - The luxury goods market in China grew 48% last year as Covid-related travel disruptions boosted domestic spending.

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 23rd April 2021 - Small companies get hit most by lockdowns - According to a survey, over 82% of businesses have experienced a negative impact of Covid 19 - Traders ask the Delhi govt to extend the lockdown beyond April 26th. - Government must provide handholding for GST compliances to industries: PHD Chamber. - Federation of Punjab Small Industry Association said Unbilled sale of products, Bill swapping & Bogus billing on high rise in Punjab

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 22nd April 2021 - International Finance Corporation, proposed a $150 million senior loans for up to five years to Bajaj Finance  - This will enable the company to expand its lending to MSME and women-owned MSMEs. - Finance Minister Nirmala Sitharaman urges industry to assess the Covid-19 situation carefully - E-commerce, OTT, and gaming witness over 100% growth in 2020 - Despite the pandemic export of Agri and allied commodities during Apr 2020 – Feb 2021 shows an increase of 18.49%

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 21st April 2021 - Vedanta launches ‘Saathi’ program offering a range of services for MSMEs - RBI sets up a committee to review asset reconstruction companies. - Union Commerce and Industry Minister Piyush Goyal has formally launched the Startup India Seed Fund Scheme (SISFS) - Union Minister for Chemicals and Fertilizers addresses the Workshop on PLI Scheme for Bulk Drug and Medical Devices -Microsoft announces availability of business management solution for SMEs

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 20th April 2021 - RBI has decided to set up a new Regulations Review Authority (RRA 2.0) to review its regulations. - Special Mention Accounts-1 will now be eligible for credit under the ECLGS 2.0 scheme. - GST officers to be soon armed with real-time data on vehicles moving without e-way bills - Vedanta Resources has launched its flagship initiative: Fuel the MSME growth story for a self-reliant India. - Maharashtra CM appealed to the industrial sector to plan a COVID-appropriate work-style to ensure that the economy is not impacted in case of a "third wave of coronavirus"

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 19th April 2021 - Amazon announces $250 million funds to digitize small businesses in India. - D-Street loses Rs 3.5 lakh crore - Sivasubramanian Ramann takes charge as Chairman, Managing Director, SIDBI - NBFCs seek an extension of the MSME restructuring scheme till March 2022 -: Nirmala Sitharaman said No plan of national lockdown; seeking feedback from MSMEs

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 13th April 2021 - A fresh headache for beleaguered automakers is the lack of rubber. - In the wake of Covid restrictions, India's Insolvency and Bankruptcy Board establishes online platforms. - To combat COVID-19, Maharashtra has shut down most manufacturing and restricted e-commerce. - The western India hub has lost about 10% of its migrant workers from SMEs. - Nitin Gadkari emphasizes the need for government schemes to be digitalized in order to help MSMEs expand.

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 11th April 2021 - Night curfew should not hinder Industries, workers: KASSIA - Telangana government mulls policy for IT MSMEs - NeoGrowth set to disburse loans within 24 hours to retailers with instant approval -An appropriate decision regarding imposing a lockdown in Maharashtra will be taken after April 14. - Flipkart will work with Adani Logistics Limited to strengthen Flipkart’s supply chain infrastructure which will support MSMEs and sellers

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 9nd April 2021 - Pre-packaged plan threshold set at Rs 10 lakh for MSMEs - U GRO Capital partners with SBM Bank India to launch credit card for MSMEs - MP Chief Minister admits MSMEs in trouble during Covid, assures help - Skill development ministry conducts regional workshop to accelerate implementation of PMKVY 3.0 in NE Region - Cumulative sanctions under Mudra scheme cross 14.96 lac

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 7nd April 2021 - Acc. to The Monetary Policy Committee report credit flows to the MSME sector saw a whopping boost of 21 %. - The report added that these numbers reflect measures taken by the Indian government and the RBI - RXIL is the first TReDS network to cross Rs 1,000 crore in monthly throughput. - Maharashtra's economy is expected to suffer a loss of Rs 40,000 crore as a result of the state's lockdown. - Mfg. Ind allowed from Mini Lockdown amid Covid 19 in Maharashtra

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 7nd April 2021 - PayPal partners with FlexiLoans to offer MSMEs collateral-free term loans. - More than Rs 25,586 crore sanctioned to over 1,14,322 accounts by the Banks under Stand-Up India Scheme in 5 years - IRDAI proposes regulations for designing, pricing of general insurance products - The government has amended the Insolvency & Bankruptcy Code to provide for prepackaged resolution framework for msmes - Private offices, except in the banking and insurance sectors, will remain shut in Maharashtra

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 4 News Updates of 6nd April 2021 - Factory activity in India has slowed to a seven-month low due to renewed COVID-19 lockdowns. - Union minister Nitin Gadkari has given his approval in principle to the establishment of three clusters in Uttar Pradesh. - One for fusion khadi work, another for zari zardosi work, and two flatted factories. - SIDBI celebrates 32nd foundation day as ''Swavalamban Prerna Diwas'' - Khadi and Village Industries Commission (KVIC) has recorded its best ever performance in job creation under the Prime Minister’s Employment Generation Program (PMEGP). #smeventure #voiceofmsmes #standupindia #msmes #msme #msmeindia #msmehub #startupslife #startupschool #startupindia #startupnews #indianstartups #businessnews #businessindia #digitalindia

SMEBITES NEWS UPDATE WITH SMEVENTURE @sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs  Top 5 News Updates of 2nd April 2021    - Extension of Time for Intimation of Aadhaar and Certain Other Time Limits  - Government fast-tracks MSME insolvency  - GST Revenue collection for March’ 21 sets new record  - ₹ 1,23,902 crore gross GST revenue collected in the month of March 2021  - Express Stores helps enthusiastic entrepreneurs to open their own Kiranas.

SMEBITES NEWS UPDATE WITH SMEVENTURE sme_venture presents #smeBites News Update News updates for small and medium enterprise entrepreneurs Top 5 News Updates of 1st April 2021  - Cabinet approves Production Linked Incentive Scheme for Food Processing Industry. - Emergency Credit Line Guarantee Scheme (ECLGS) 1.0 & 2.0 extended upto 30.6.2021 - HSN Code/ Service Accounting Code mandatory on invoices as per revised requirement from 1st April 2021 for GST taxpayer with turnover of more than Rs 5 crore - Government withdraws interest rate cut order on PPF, other small savings scheme. - RBL Bank & Tide, collaborate to serve the banking needs of Indian SMEs For regular Updates Follow on Instagram -- https://www.instagram.com/sme_venture/ FB -- https://www.facebook.com/SMEVenture/ Twitter -- https://twitter.com/SmeVenture LinkedIn -- https://www.linkedin.com/company/smeventure.com  Blogs on our Site:  https://smeventure.com/  Consider Sharing this podcast and be a part of "Rising of SMEs" (SMEVenture - Voice of MSMEs)